BlackRock Inc. Takes $16.91 Million Position in 908 Devices Inc. $MASS

Key Points

• BlackRock acquired 1.94 million shares of 908 Devices in the second quarter, valued at approximately $16.9 million and representing a 5.14% stake. Institutional investors collectively own 88.06% of the company.
• 908 Devices reported quarterly revenue of $16.07 million and an adjusted loss of $0.11 per share, beating analyst estimates for both metrics, though the company remains unprofitable with a negative 56.96% net margin.
• Analyst sentiment is mixed: Roth Capital and Stifel Nicolaus raised their price targets and maintained Buy ratings, while Weiss Ratings reiterated a Sell rating. The overall consensus is Hold, with an average target price of $12.50.

BlackRock Inc. acquired a new stake in shares of 908 Devices Inc. (NASDAQ:MASS - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,944,236 shares of the company's stock, valued at approximately $16,915,000. BlackRock Inc. owned approximately 5.14% of 908 Devices at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Deutsche Bank AG purchased a new position in shares of 908 Devices during the 2nd quarter valued at $247,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in 908 Devices in the 2nd quarter worth about $962,000. Bank of New York Mellon Corp purchased a new stake in shares of 908 Devices in the 2nd quarter valued at about $633,000. GSA Capital Partners LLP bought a new stake in shares of 908 Devices during the 2nd quarter valued at about $428,000. Finally, First Light Asset Management LLC grew its holdings in shares of 908 Devices by 25.6% during the first quarter. First Light Asset Management LLC now owns 6,072,563 shares of the company's stock worth $37,164,000 after purchasing an additional 1,236,377 shares in the last quarter. 88.06% of the stock is currently owned by hedge funds and other institutional investors.

908 Devices Price Performance

MASS opened at $10.04 on Friday. The stock's 50 day simple moving average is $8.88 and its 200 day simple moving average is $7.80. The firm has a market cap of $414.95 million, a price-to-earnings ratio of -10.57 and a beta of 0.68. 908 Devices Inc. has a 1 year low of $5.03 and a 1 year high of $11.25.

908 Devices (NASDAQ:MASS - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.03. The firm had revenue of $16.07 million during the quarter, compared to the consensus estimate of $15.37 million. 908 Devices had a negative return on equity of 12.54% and a negative net margin of 56.96%. As a group, sell-side analysts anticipate that 908 Devices Inc. will post -0.8 EPS for the current year.

Analyst Ratings Changes

MASS has been the subject of several research analyst reports. Wall Street Zen upgraded shares of 908 Devices from a "hold" rating to a "buy" rating in a research report on Saturday, August 29th. Weiss Ratings reissued a "sell (d-)" rating on shares of 908 Devices in a research note on Friday, August 7th. Roth Capital raised their price target on 908 Devices from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, August 12th. Finally, Stifel Nicolaus upped their price objective on 908 Devices from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $12.50.

Insider Transactions at 908 Devices

In related news, Director Christopher D. Brown sold 8,358 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $9.23, for a total value of $77,144.34. Following the sale, the director directly owned 805,559 shares of the company's stock, valued at $7,435,309.57. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Joseph Griffith, IV sold 11,459 shares of the business's stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $10.95, for a total value of $125,476.05. Following the transaction, the chief financial officer owned 121,497 shares in the company, valued at approximately $1,330,392.15. This represents a 8.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 61,359 shares of company stock valued at $567,022. 28.20% of the stock is currently owned by company insiders.

908 Devices Company Profile

908 Devices Inc NASDAQ: MASS is a developer and manufacturer of portable analytical instruments designed to deliver rapid chemical detection in field and laboratory environments. The company's core focus lies in miniaturizing high-performance mass spectrometry and ion mobility spectrometry technologies, enabling users to perform on-site analysis that traditionally required benchtop equipment.

Key products in 908 Devices' portfolio include the MX908, a handheld high-resolution mass spectrometer capable of detecting and identifying a broad range of chemicals and explosives; the M908 portable mass spectrometer for laboratory or mobile units; and the ZipChip capillary electrophoresis system for high-throughput, microfluidic separations.

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